It seems that whenever we the taxpayers are levied with fees, a surcharge or "temporary" tax or anything to help bail out the bad decisions of larger corporations or government our officials don't like losing those dollars rolling in and it's no less the case here with the Fannie Mae and Freddie Mac Guarantee Fees. Please read.

The Mortgage Action Alliance put out a Call To Action this week to oppose the extension of the Fannie Mae and Freddie Mac guarantee fees (g-fees). G-fees were adopted in 2011 to help protect Fannie Mae and Freddie Mac against losses from bad loans. But now that the Tax Payers have dug Fannie Mae and Freddie Mac out of the financial hole they were in, the discussion should be to eliminate the g-fees not extended them to fund non mortgage and homeownership related costs.

The attempt to extend the g-fees beyond the original 2021 date is being done under the guise of improving the nations highways, but we all know once the g-fees are extended they will continue to be extended. This is another effort of putting more of the tax burden on unsuspecting homeowners.

Hope everyone reading this blog takes the time to take action on this issue. It only takes a couple of minutes, and could save individual homeowners thousands of dollars. Just click on the Call To Action below and follow the instructions. Also feel free to re-blog this and pass this information along to those who follow your blog.

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com